Microsoft Relishes Record Quarter, but Cloud Growth Slows

Microsoft turned in a record-setting quarter on Wednesday, with $29.1 billion in revenue, up 19% year-over-year. While Azure revenue growth was up 76%, that's a slowdown from recent quarters, when Microsoft was kissing triple-digit Azure growth rates.

Slowing growth is not bad news for Microsoft, especially not 76% growth, particularly given Microsoft's overall size. Also mitigating the downside of slowing growth: Microsoft is growing at significantly better than the overall market, which grew at about 50%, according to Synergy.

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